February 19, 2010
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TNK-BP Raised the Energy Efficiency of Its Oil Production by 3%

TNK-BP lowered its specific energy consumption for oil production by 3% in 2009, informed the press service of the company. According to the press service report, the company was planning to have this indicator decreased by 1.5 to 2% in the beginning of 2009. The technical effect of the energy-saving program of TNK-BP exceeded 395 million kW·h.

These results were attained owing, first and foremost, to special technical measures taken at the artificial oil lifting and reservoir pressure maintenance facilities, which raised significantly the equipment efficiency. In addition, a tangible contribution was provided through organizational measures aimed at centralized management of energy-saving programs.

In 2010, TNK-BP is going to develop an energy management system based on the requirements of the international standard ISO 50001 and to introduce it to its enterprises. The press service report points out that this energy management system will cover all business processes related to energy saving and all industrial processes associated with continuous growth of their energy efficiency.

All these measures are expected to save more than 320 million kW·h in 2010.

Apart from that, in 2010 TNK-BP is going to develop programs aimed at increasing the energy efficiency of its oil refineries until 2013 and at decreasing the energy intensity of oil refining. These programs will focus on lowering the specific energy cost of oil refining by 2 to 3% in the nearest 3 to 5 years.

TNK-BP is the third largest oil company of Russia owned, on a parity basis, by BP and the AAR Consortium (Alfa Group – Access Industries – Renova). TNK-BP owns approximately 50% of the Russian oil and gas company Slavneft.

In 2008, the company produced an average of 1.65 million barrels of liquid hydrocarbons a day. With the 50% participation in Slavneft taken into account, the average production rate of TNK-BP in 2008 was 1.85 million barrels of liquid hydrocarbons a day. TNK-BP accounts for approximately 16% of all oil production in Russia (including the oil production of TNK-BP in Slavneft). The overall proven reserves of the company as of December 31, 2007, according to estimates of the US Securities and Exchange Commission (SEC) without regard to the period of validity of the company licenses, amounted to 8.225 billion barrels of oil equivalent.

The producing enterprises of the company are located in Western Siberia, Eastern Siberia and the Volga-Ural region. TNK-BP owns five oil refineries in Russia and Ukraine and a network of retail sites working under the brands BP and TNK.

The net income of TNK-BP, according to US GAAP, fell by a factor of 1.8 in January–September 2009 from $6.552 billion in the same period of 2008 down to $3.691 billion, and its earnings shrank from $43.9 billion to $24.747 billion. The operating expenditures of the company dwindled from $3.914 billion to $2.945 billion, and its EBITDA dropped from $10.918 billion to $6.663 billion.



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